The charter industry in Los Angeles is worried.

Having spent millions to grab a 4-3 edge on the LAUSD board, what happens if Ref has to resign?

Not only is their slim control in jeopardy, but they were hoping to get less oversight, less accountability, more autonomy from the friendly board.

At first their friend Peter Cunningham insisted in an op-ed in the L.A. Times that Ref’s charges money laundering of campaign cash were a “rookie” mistake.

But now that his own charter chain has questioned the whereabouts of nearly $300,000, this may be a bad time to tell the Auditors to go away.

If the charter industry had any sense of integrity, they would insist on annual audits of every charter.

What do they have to hide?